Michael Kors Profit Soars

Specialty Retailer Boosted by Demand For High-End Clothing and Accessories

By

Tess Stynes And

Karen Talley

Updated Feb. 12, 2013 6:46 p.m. ET

Michael Kors Holdings Ltd.'s quarterly earnings surged as the specialty retailer continued to enjoy strong demand for its high-end clothing and accessories. It also continued to open stores.

Shares rose 8.8%, or $5, to close at $62 in 4 p.m. Tuesday trading as earnings and revenue beat expectations and Michael Kors raised its fiscal year guidance. Through Monday's close, the stock is up 70% in the past year.